SpaceX targets $1.75 trillion valuation in record $75 billion IPO

SpaceX is targeting a valuation of $1.75 trillion as it seeks to raise at least $75 billion in what would be the largest initial public offering in U.S. history, with an investor roadshow set to begin Thursday, The Korea Times reported, citing Reuters.

The offering is structured as an all-primary deal — meaning proceeds flow to SpaceX rather than to existing shareholders — positioning the company to fund its ambitions across space exploration, satellite communications and artificial intelligence, sectors drawing growing attention from Korean-American investors across Orange County.

SpaceX confirmed plans for an all-primary initial public offering in which all capital raised flows directly to the company, rather than to existing shareholders seeking to cash out, The Korea Times reported Monday, citing Reuters. Investor meetings are scheduled to begin Thursday, with final terms subject to change based on the outcome of those discussions.

The $1.75 trillion valuation figure includes a greenshoe option — a standard IPO provision that grants underwriters the right to sell additional shares above the original allotment if investor demand exceeds expectations. The base offering sets a minimum target of $75 billion in proceeds.

SpaceX, which founder Elon Musk has built into the dominant force in commercial rocket launches, also operates Starlink, a satellite internet network with global coverage, and has expanded into artificial intelligence ventures. The combination places the company at the intersection of sectors that have commanded premium valuations from public-market investors in recent years.

Reuters described SpaceX as the crown jewel of Musk's business holdings, a characterization reflected in the unprecedented scale of the proposed offering, according to The Korea Times report.

The listing is expected to attract interest from Korean-American investors throughout Orange County, a community with a substantial presence in Southern California's technology and finance industries, for whom direct access to SpaceX equity has not previously been available through public markets.

If the deal closes at its stated target, SpaceX would rank among the most valuable publicly traded companies in the world and would mark a landmark moment for the commercial space industry — opening Musk's flagship venture to retail investors, including the large Korean-American technology and finance workforce based across Southern California.